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Master of Business Administration- MBA

Descriptive Practice Question Paper


MB0051 Legal aspects of Business- 4 Credits- 3rd sem
(Book ID: B1725)
Set- 1
(40 marks)
1. What is a contract? What test will you apply to ascertain whether an agreement is a contract?
Give the classification of contract in brief. (Refer unit 2)
2. What is a contract of guarantee? Distinguish between the contract of guarantee and indemnity.
(Refer unit 3)
3. Define a patent. What are the rights that a patentee acquires under the act? (Refer unit 15)
4. Case study:
The Banking, Public Financial and Negotiable Instruments Laws (Amendment) Act, 1988,
inserted a new chapter XVII in NI Act, 1881, which comprises Sections 138-142. According
to this amendment, Section 138 states that a drawer of a dishonoured cheque is deemed to
have committed an offence. This offence is punishable with imprisonment for a term that
may extend to two years (increased from one to two years by the Amendment Act) or with a
fine that may extend to twice the amount of the cheque. To be punished under this section,
the following conditions should be satisfied:
Cheque was dishonoured due to insufficiency of funds in the account maintained by
drawer with a banker, for payment of an amount of money to another person
Payment for which the cheque was issued should be only for a legally enforceable debt
or liability, in whole or part
Cheque should have been presented to the bank within three months of the date on
which it was drawn or period of its validity, whichever is earlier
Payee or holder of the cheque should have made a demand for payment by giving notice
to the drawer within 15 days of receipt of information about the return of the unpaid
cheque
Drawee should have failed to make payment within 15 days of written demand for
payment
Payee or holder in due course should have made a complaint within one month of cause
of action arising under Section 138
In view of the above points, analyse the case provided below:
Deepak is a client of City Limousines India Ltd. He received a cheque amounting to Rs.
6,000 dated 2 September 2009 from City Limousines India Ltd and deposited same cheque
on 7 September 2009 in his bank. The cheque bounced for the reason of "Insufficient
Balance".

He called on the City Limousines India Ltd helpline for the same, but did not get any
satisfactory response. He called on the Toll Free/24X7 Helpline: 23814792 at 2:16 PM on 12
September 2009. A lady picked the call but did not show any interest to resolve his
query/concern. She ended the call stating that the company will dispatch a letter after 20th
September, after which Deepak could check regarding the same.
According to Deepak, City Limousines India Ltd. is an ISO-approved company and it seems
improbable that a cheque for Rs.6,000 issued by such a large company could bounce for
insufficient funds. He sent an e-mail to the company ID but did not receive any reply on the
same. Deepak reasoned that such actions on the part of the company may amount to fraud
on its investors and he decided to file a law suit against the company.
Discussion Questions:
1. What are the conditions that should be checked by Deepak before filing the law suit?
2. What are the penalties that can be enforced on the company?
(Refer unit 8)

Master of Business Administration- MBA


Descriptive Practice Question Paper
MB0051 Legal aspects of Business- 4 Credits- 3rd sem
(Book ID: B1725)
Set- 2
(40 marks)

1. Explain the meaning and requisites of bailment? How is it different from pledge? (Refer unit 4)
2. Who is an unpaid seller? What are his rights? (Refer unit 7)
3. What are the characteristics of a company? What do you mean by memorandum of Association?
(Refer unit 13)
4. What is partnership? Briefly state the special features of a partnership on the basis of which its
existence can be determined under the Indian Partnership Act. (Refer unit 6)

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